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Alfa Financial Software delivers 'strong' Q1 trading performance
(Sharecast News) - Software developer Alfa Financial Software said on Tuesday that it had delivered a "strong trading performance" in the three months ended 31 March, with total contract values reaching a new record in the quarter. Alfa Financial said Q1 revenues had grown 20% year-on-year to £31.0m, with subscription revenues up 21% on Q124, while software engineering revenues grew 79% and delivery revenues improved 8%.
The FTSE 250-listed group highlighted that total contract values at the end of the quarter were at an all-time high of £227.0m, up from the previous record of £221.0m on 31 December 2024 and versus £190.0m at the same time a year earlier.
Chief executive Andrew Denton said: "We've had a strong start to the year across all revenue streams as we deliver for new customers, upgrade existing customers to Alfa Systems 6 and work with late-stage prospects through the sales process. We continue to see fantastic sequential growth in our Subscription revenues, up 6% on last quarter and 21% on the same quarter last year.
"We continue to invest in the product and our people to further enhance our leading position in the market and our excellent delivery track record. We have seen no change in customer buying behaviour as a result of current macro-economic uncertainty and we are well positioned to achieve our expectations for the year."
As of 0905 BST, Alfa Financial shares were up 1.39% at 219.00p.
Reporting by Iain Gilbert at Sharecast.com
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